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Is it wise to buy indexed whole life insurance? I am evaluating an option that limits upside at 10% per year with no down side. I am Currently 55 and in good health with about 10 years left to work.

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  • This duplicate might not be exactly what you're looking for, but search the site for "Whole Life" and you will find many similar questions. In short - commissions on these products are quite profitable for agents, so they get pushed very aggressively, but very rarely make sense. Buy term life insurance for protection of your family's livelihoods if necessary, and use the excess available to buy a separate investment without the crazy high fees. Don't mix the two products together. Sep 29 '20 at 12:38
  • No, Whole life is a terrible product. Buy level term.
    – Pete B.
    Sep 29 '20 at 13:36
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    Do you have any people that depend on your income? If not, you probably don't need any life insurance at all. (I ask because most 55 year olds do not have any dependents and at least some retirement savings).
    – Nosjack
    Sep 29 '20 at 13:53

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